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My pension helps to supplement the $600 per month I receive from Social Security and my retirement savings. Normally, employees must work for an employer for a certain time period before the benefits they have earned belong to them. After they have done so, they are considered vested in those benefits.
Vesting in a retirement plan means ownership. This means that each employee will vest, or own, a certain percentage of their account in the plan each year. An employee who is 100% vested in his or her account balance owns 100% of it and the employer cannot forfeit, or take it back, for any reason.
Hear this out loud PauseNormal retirement age under VRS Plan 1 is age 65. You become eligible for an unreduced benefit at age 65 with at least five years of service credit or at age 50 with at least 30 years of service credit.
Hear this out loud PauseThe Basic Benefit is a monthly benefit in retirement based on your age, total years of service credit and average final compensation . The unreduced benefit is calculated using a percentage of your average final compensation multiplied by your total years of service credit.
Options if You Leave Your Job Leave your funds with VRS and become a deferred member. If you are vested, you may be eligible for a future retirement benefit if you meet the age and service requirements for your plan.

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Hear this out loud PauseYou become vested for your VRS defined benefit when you have at least five years (60 months) of service credit. Once you are vested, you are eligible for a monthly retirement benefit if you meet the age and service requirements for your plan.
You are automatically vested in your own contributions and VAs matching contributions from day one of VA employment. Employees are vested in the 1% automatic contribution after three years of VA service.
Hear this out loud PauseYour average final compensation is the average of your 36 consecutive months of highest creditable compensation as a covered employee.

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